Operating name changed

Profile-User · ‎June 02, 2020

Hello,

The main company changed its industry, which result in the change of operating company name. In this case, should I make another G125 (i.e. #125-1 for previous company name and previous year F/S), #125-2(current company operating name with the current F/S)) to compare it with the previous year? Otherwise, is it okay to use a same G125 to compare previous and current F/S because of the same Business number and same legal business name?

Thank you!

ProFile Duncan · ‎June 02, 2020

Hi, thank you for using Intuit ProFile Community

Did you contact Canada Revenue Agency (CRA):

https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/changes-your-business/change-...

Since you have to notify CRA of an operating name change, I would also consult them regarding required books, records and T2 filing

Hope this helps

View solution in original post

ProFile Duncan · ‎June 02, 2020

Hi, thank you for using Intuit ProFile Community

Did you contact Canada Revenue Agency (CRA):

https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/changes-your-business/change-...

Since you have to notify CRA of an operating name change, I would also consult them regarding required books, records and T2 filing

Hope this helps

Profile-User · ‎June 02, 2020

Thank you for your reply. Yes, it was already notified to CRA, however, I am confused to record S125 technically :) Which one you recommend me separate S125 or same S125.... ?